OREANDA-NEWS. Sberbank of Russia and Eurasian Resources Group S.a.r.l. (ERG), one of the world's largest natural resources mining and processing companies, signed a Memorandum of Understanding during the 19th annual St. Petersburg International Economic Forum. On behalf of Sberbank of Russia the document was signed by Maxim Poletaev, First Deputy Chairman of the Executive Board, and on behalf of Eurasian Resources Group by Alexander Mashkevitch, Chairman of the Board of Managers of ERG S.a.r.l.

The Memorandum envisages strategic cooperation between Sberbank of Russia and Eurasian Resources Group in a number of areas, including financing the activities of Eurasian Resources Group and providing quality high-tech banking services. One of the key points of the Memorandum includes reviewing the possibility of prolonging ERG's debt payment schedule for six years - until 2021.

Another important area of cooperation is providing a wide range of financial and consulting services in investment banking that range from advising on diversifying sources of financing to analytical and informational support on securities markets including those that will be provided by Sberbank CIB, the corporate and investment banking business of Sberbank. The document also assumes the possible expansion of cooperation as part of the bank providing optimal conditions for financing Eurasian Resources Group.